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Returning Member
posted Oct 29, 2019 10:49:31 PM

Do you know how to declare camera accessories for taxes?

 Would they fall under class 8, class 12 as assets or business expenses? 

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1 Best answer
New Member
Oct 29, 2019 10:49:32 PM

Class 8 would be more appropriate, than class 12.  If the accessories are in the $200 to $500 range, you could add them as additions, otherwise, they could be expensed under supplies.

5 Replies
New Member
Oct 29, 2019 10:49:32 PM

Class 8 would be more appropriate, than class 12.  If the accessories are in the $200 to $500 range, you could add them as additions, otherwise, they could be expensed under supplies.

Returning Member
Oct 29, 2019 10:49:34 PM

Since most of them are under $200, then they would be expenses? If they are between 200-500$, where do I add them as addition?

New Member
Oct 29, 2019 10:49:35 PM

Presumably, you are self-employed as a photographer, which would be the only reason for adding them as assets.  In that case, you would click on income > self-employment and follow the pages. If using the free version, you would type T2125 in the menu bar and follow the pages.

Returning Member
Oct 29, 2019 10:49:36 PM

thanks 🙂

New Member
Oct 29, 2019 10:49:38 PM

:smile: